Tax News Highlights

Tax News Highlights

Each issue features information on the latest tax developments in an easy-to-scan format to help you keep pace with valuable federal, state and local, and international tax updates.

Recent updates

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IRS Guidance on Income Tax Treatment of ERC Claims
IRS Guidance on Income Tax Treatment of ERC Claims
The IRS updated its guidance for ERC claims and reporting issuance or denial of the credit on income tax returns. Crowe specialists offer insight.
5th Circuit Hears Limited Partner SECA Tax Case
5th Circuit Hears Limited Partner SECA Tax Case
The 5th Circuit posed tough questions about applying a functional analysis test to determine eligibility for the SECA tax limited partner exception.
TAS Act Proposes Changes to Tax Administration
TAS Act Proposes Changes to Tax Administration
A bipartisan discussion draft of the Taxpayer Assistance and Service Act proposes significant changes to tax administration.
Corporate Transparency Act Reporting Suspended
Corporate Transparency Act Reporting Suspended
Enforcement of beneficial ownership information reporting under the CTA is suspended until final revised regulations are released.
Proposed regulations clarify the rules limiting the deduction for compensation of certain highly paid employees of publicly traded companies.
IRS Proposes New Section 162(m) Regulations
Proposed regulations clarify the rules limiting the deduction for compensation of certain highly paid employees of publicly traded companies.
Proposed Regs on Tax-Free Reorgs and Spinoffs
Proposed Regs on Tax-Free Reorgs and Spinoffs
Proposed regulations on tax-free reorganizations and spinoffs would add significant compliance and reporting burden for taxpayers.
IRS Guidance on Income Tax Treatment of ERC Claims
IRS Guidance on Income Tax Treatment of ERC Claims
The IRS updated its guidance for ERC claims and reporting issuance or denial of the credit on income tax returns. Crowe specialists offer insight.
5th Circuit Hears Limited Partner SECA Tax Case
5th Circuit Hears Limited Partner SECA Tax Case
The 5th Circuit posed tough questions about applying a functional analysis test to determine eligibility for the SECA tax limited partner exception.
TAS Act Proposes Changes to Tax Administration
TAS Act Proposes Changes to Tax Administration
A bipartisan discussion draft of the Taxpayer Assistance and Service Act proposes significant changes to tax administration.
Corporate Transparency Act Reporting Suspended
Corporate Transparency Act Reporting Suspended
Enforcement of beneficial ownership information reporting under the CTA is suspended until final revised regulations are released.
Proposed regulations clarify the rules limiting the deduction for compensation of certain highly paid employees of publicly traded companies.
IRS Proposes New Section 162(m) Regulations
Proposed regulations clarify the rules limiting the deduction for compensation of certain highly paid employees of publicly traded companies.
Proposed Regs on Tax-Free Reorgs and Spinoffs
Proposed Regs on Tax-Free Reorgs and Spinoffs
Proposed regulations on tax-free reorganizations and spinoffs would add significant compliance and reporting burden for taxpayers.
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Related insights

Crowe tax professionals review the new Section 174 rules and address issues considering the limited IRS guidance. 

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Crowe tax professionals review the new Section 174 rules and address issues considering the limited IRS guidance. 

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Organizations need to consider environmental, social, and governance (ESG) tax planning to comply with potential requirement changes and be competitive.

The 2022 midterm elections created a lot of uncertainty and a divided Congress. How will that impact tax oversight and legislation?

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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax